The QSE Index rose 0.1% to close at 9,449.6

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 0.1% to close at 9,449.6. Gains were led by the Insurance and
Consumer Goods & Services indices, gaining 1.5% and 0.8%, respectively. Top
gainers were Qatar Insurance Company and Zad Holding Company, rising 2.5% and
2.2%, respectively. Among the top losers, Doha Insurance Group fell 3.6%, while
Alijarah Holding was down 1.6%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.3% to close at 8,462.6. Losses were led by the
Food & Beverages and Energy indices, falling 1.1% and 1.0%, respectively. Saudi
Arabia Refineries Co. declined 3.9%, while Alujain Corp. was down 3.2%.
Dubai: The DFM General Index declined 0.2% to close at 2,913.1. The Services index
fell 1.3%, while the Telecommunication index declined 0.8%. Dar Al Takaful fell
4.3%, while Shuaa Capital was down 3.7%.
Abu Dhabi: The ADX General Index fell 0.2% to close at 4,738.6. The Real Estate
index declined 1.0%, while the Telecom. index fell 0.9%. Sudan Telecommunication
Co. declined 3.7%, while International Holdings Co. was down 2.3%.
Kuwait: The Kuwait Main Market Index fell 0.2% to close at 4,957.1. The Banks
index declined 0.9%, while the Telecommunication index fell 0.6%. Warba
Insurance Co. fell 7.0%, while Kuwait Real Estate Holding Co. was down 6.7%.
Oman: The MSM 30 Index fell 0.1% to close at 4,442.5. The Industrial Index declined
1.2%, while the Financial Index fell marginally. Salalah Mills fell 7.0%, while
Almaha Ceramics was down 6.1%.
Bahrain: The BHB Index gained 0.5% to close at 1,358.1. The Commercial Banks
index rose 1.1%, while the other indices ended flat or in red. Ahli United Bank rose
2.3%, while Bahrain Commercial Facilities Co. was up 0.7%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Insurance Company 35.47 2.5 312.5 (21.6)
Zad Holding Company 92.00 2.2 17.4 24.9
Al Meera Consumer Goods Co. 158.50 1.6 95.6 9.4
Masraf Al Rayan 36.35 1.3 548.3 (3.7)
Qatar Navigation 65.48 1.2 41.5 17.1
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Company Ltd. 15.58 (1.4) 2,095.6 (3.2)
Vodafone Qatar 9.35 (0.1) 1,804.5 16.6
Masraf Al Rayan 36.35 1.3 548.3 (3.7)
Salam International Inv. Ltd. 5.17 (0.6) 396.5 (25.0)
Qatar Insurance Company 35.47 2.5 312.5 (21.6)
Market Indicators 17 July 18 16 July 18 %Chg.
Value Traded (QR mn) 190.2 217.9 (12.7)
Exch. Market Cap. (QR mn) 515,354.7 515,195.1 0.0
Volume (mn) 7.7 7.5 2.7
Number of Transactions 3,259 3,057 6.6
Companies Traded 41 43 (4.7)
Market Breadth 18:18 25:14 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,649.22 0.1 1.4 16.5 13.9
All Share Index 2,723.18 0.1 1.2 11.0 14.1
Banks 3,292.74 0.2 1.4 22.8 13.2
Industrials 3,070.41 (0.4) 1.9 17.2 16.1
Transportation 1,943.14 (0.2) (0.6) 9.9 12.2
Real Estate 1,613.10 (0.4) (0.2) (15.8) 14.1
Insurance 3,057.65 1.5 1.8 (12.1) 26.0
Telecoms 1,041.69 (0.0) 0.8 (5.2) 31.2
Consumer 6,287.96 0.8 0.6 26.7 13.6
Al Rayan Islamic Index 3,761.03 0.2 1.2 9.9 15.1
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Co. for Cooperative Ins. Saudi Arabia 68.80 2.7 298.9 (27.1)
Mouwasat Medical Serv. Saudi Arabia 98.00 2.6 69.2 29.5
Qatar Insurance Co. Qatar 35.47 2.5 312.5 (21.6)
Ahli United Bank Bahrain 0.68 2.3 3,679.3 2.0
Masraf Al Rayan Qatar 36.35 1.3 548.3 (3.7)
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Savola Group Saudi Arabia 34.85 (2.2) 848.3 (11.7)
Sahara Petrochemical Co. Saudi Arabia 18.42 (2.2) 2,184.0 11.7
Oman Cement Co. Oman 0.37 (2.1) 329.0 (10.7)
Kuwait Finance House Kuwait 0.61 (1.9) 12,256.1 17.1
National Mobile Telecom. Kuwait 0.85 (1.7) 31.4 (21.8)
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Doha Insurance Group 12.15 (3.6) 0.3 (13.2)
Alijarah Holding 9.35 (1.6) 83.9 (12.7)
Qatar Gas Transport Co. Ltd. 15.58 (1.4) 2,095.6 (3.2)
Ezdan Holding Group 8.09 (1.3) 214.0 (33.0)
Dlala Brokerage & Inv. Holding 15.79 (1.3) 121.8 7.4
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Qatar Gas Transport Co. Ltd. 15.58 (1.4) 32,747.2 (3.2)
Masraf Al Rayan 36.35 1.3 19,739.5 (3.7)
Qatar Fuel Company 146.99 1.0 18,135.6 44.0
Vodafone Qatar 9.35 (0.1) 16,926.6 16.6
Al Meera Consumer Goods Co. 158.50 1.6 15,073.1 9.4
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 9,449.64 0.1 1.4 4.7 10.9 51.99 141,567.9 13.9 1.4 4.6
Dubai 2,913.14 (0.2) 1.0 3.3 (13.6) 52.86 103,064.0 9.4 1.1 5.8
Abu Dhabi 4,738.59 (0.2) 1.1 3.9 7.7 31.26 130,130.6 12.7 1.4 5.1
Saudi Arabia 8,462.59 (0.3) 1.2 1.8 17.1 754.55 535,644.3 19.2 1.9 3.2
Kuwait 4,957.10 (0.2) (0.4) 1.9 2.7 111.88 34,220.5 15.5 0.9 4.0
Oman 4,442.49 (0.1) 0.0 (2.8) (12.9) 7.67 18,841.2 10.9 1.0 5.5
Bahrain 1,358.13 0.5 1.2 3.6 2.0 8.90 20,808.6 8.9 0.9 6.0
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,380
9,400
9,420
9,440
9,460
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 6
Qatar Market Commentary
 The QSE Index rose 0.1% to close at 9,449.6. The Insurance and
Consumer Goods & Services indices led the gains. The index rose on the
back of buying support from non-Qatari shareholders despite selling
pressure from Qatari and GCC shareholders.
 Qatar Insurance Company and Zad Holding Company were the top
gainers, rising 2.5% and 2.2%, respectively. Among the top losers, Doha
Insurance Group fell 3.6%, while Alijarah Holding was down 1.6%.
 Volume of shares traded on Tuesday rose by 2.7% to 7.7mn from 7.5mn
on Monday. However, as compared to the 30-day moving average of
8.9mn, volume for the day was 13.2% lower. Qatar Gas Transport
Company Limited and Vodafone Qatar were the most active stocks,
contributing 27.3% and 23.5% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases, Global Economic Data and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue (mn)
2Q2018
% Change
YoY
Operating Profit
(mn) 2Q2018
% Change
YoY
Net Profit
(mn) 2Q2018
% Change
YoY
Al Hassan Engineering Oman OMR 11.3 -40.8% – – -2.3 N/A
Esterad Investment Company#
Bahrain BHD 14.9 -94.3% – – -259.6 N/A
Source: Company data, DFM, ADX, MSM, TASI, BHB. (
#
Values in ‘000)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
07/17 US Federal Reserve Industrial Production MoM June 0.6% 0.5% -0.5%
07/17 US Federal Reserve Capacity Utilization June 78.0% 78.3% 77.7%
07/17 UK UK Office for National Statistics Jobless Claims Change June 7.8k – -3.0k
07/17 UK UK Office for National Statistics Employment Change 3M/3M May 137k 115k 146k
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Earnings Calendar
Tickers Company Name Date of reporting 2Q2018 results No. of days remaining Status
QEWS Qatar Electricity & Water Company 18-Jul-18 0 Due
UDCD United Development Company 18-Jul-18 0 Due
CBQK The Commercial Bank 18-Jul-18 0 Due
QIIK Qatar International Islamic Bank 18-Jul-18 0 Due
GWCS Gulf Warehousing Company 19-Jul-18 1 Due
IHGS Islamic Holding Group 19-Jul-18 1 Due
KCBK Al Khalij Commercial Bank 19-Jul-18 1 Due
ABQK Ahli Bank 19-Jul-18 1 Due
DHBK Doha Bank 19-Jul-18 1 Due
QIGD Qatari Investors Group 23-Jul-18 5 Due
QNCD Qatar National Cement Company 23-Jul-18 5 Due
QATI Qatar Insurance Company 24-Jul-18 6 Due
VFQS Vodafone Qatar 24-Jul-18 6 Due
BRES Barwa Real Estate Company 24-Jul-18 6 Due
QOIS Qatar Oman Investment Company 25-Jul-18 7 Due
DBIS Dlala Brokerage & Investment Holding Company 25-Jul-18 7 Due
QIMD Qatar Industrial Manufacturing Company 26-Jul-18 8 Due
NLCS Alijarah Holding 26-Jul-18 8 Due
ORDS Ooredoo 29-Jul-18 11 Due
QNNS Qatar Navigation (Milaha) 30-Jul-18 12 Due
QFLS Qatar Fuel Company 30-Jul-18 12 Due
QFBQ Qatar First Bank 30-Jul-18 12 Due
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 42.98% 61.98% (36,121,467.60)
Qatari Institutions 19.30% 10.14% 17,401,386.26
Qatari 62.28% 72.12% (18,720,081.34)
GCC Individuals 0.41% 0.41% (2,376.63)
GCC Institutions 0.77% 1.91% (2,170,329.33)
GCC 1.18% 2.32% (2,172,705.96)
Non-Qatari Individuals 7.38% 8.23% (1,611,466.97)
Non-Qatari Institutions 29.17% 17.33% 22,504,254.27
Non-Qatari 36.55% 25.56% 20,892,787.30

3. Page 3 of 6
AHCS Aamal Company 30-Jul-18 12 Due
QISI Qatar Islamic Insurance Company 30-Jul-18 12 Due
AKHI Al Khaleej Takaful Insurance Company 30-Jul-18 12 Due
QGRI Qatar General Insurance & Reinsurance Company 31-Jul-18 13 Due
SIIS Salam International Investment Limited 31-Jul-18 13 Due
DOHI Doha Insurance Group 31-Jul-18 13 Due
MCCS Mannai Corporation 2-Aug-18 15 Due
IGRD Investment Holding Group 6-Aug-18 19 Due
Source: QSE
News
Qatar
 WDAM’s bottom line rises 8.9% YoY and 27.3% QoQ in 2Q2018
– Widam Food Company’s (WDAM) net profit rose 8.9% YoY
(+27.3% QoQ) to QR33.95mn in 2Q2018. The company’s
revenue came in at QR163.87mn in 2Q2018, which represents
an increase of 12.2% YoY (+38.3% QoQ). EPS amounted to
QR3.37 in 1H2018 as compared to QR3.01 in 1H2017. (QSE)
 ERES’ bottom line rises 52.8% YoY, more than triples QoQ in
2Q2018 driven by fair value gains on investment properties –
Ezdan Holding Group’s (ERES) net profit rose 52.8% YoY
(+208.8% QoQ) to QR319mn in 2Q2018. EPS amounted to
QR0.16 in 1H2018 as compared to QR0.44 in 1H2017. The
company recorded FV gains on investment property of
QR280mn, without which profits would have declined 81.5%
YoY and fallen 62.7% QoQ. (QSE, QNBFS Research)
 QIIK announces Moody's previously disclosed change in
outlook to ‘Stable’ – Qatar International Islamic Bank (QIIK)
announced that Moody's affirmed the bank at ‘A2’ and changed
its outlook to ‘Stable’, reflecting the strength of the Qatari
economy in its various institutions, especially the banking
sector. Moody's stated that it founded the grounds of QIIK
upgrade and the improvement of its outlook to ‘Stable’ reflects
the resilience in its financial position and performance, as it
managed to maintain strong asset quality and capital buffers
and its liquidity buffers remained solid. Moody's stated, “The
change of the bank's outlook to Stable is based on the
operational environment flexibility in Qatar and the ability of
the Qatari government to support local banks to stay
unaffected by the regional conflict which only impacted the
foreign inflows, compensated later on by the government. It is
doubtful that the continuous conflict will affect the credit
situation of the State of Qatar, whose outlook for the economy
has been upgraded to Stable and confirmed at Aa3 recently”.
QIIK’s CEO, Abdulbasit Ahmad Al Shaibei said, “This important
event is founded primarily on the high soundness and solidity
of the Qatari economy, interpreted by Moody's itself when it
confirmed the strong rating of the Qatari economy and adjusted
its future outlook to Stable.” (QSE)
 Investment Holding Group to disclose its semi-annual
financials on August 6 – Investment Holding Group announced
that it will disclose its semi-annual financial reports for the
period ending June 30, 2018 on August 6, 2018. (QSE)
 Vodafone Qatar signs agreement to connect ASTAD with fixed
services – An agreement signed by Vodafone Qatar and ASTAD
will ensure all the site offices of the country’s project
management arm are connected via Vodafone Qatar’s fixed
services. The strategic agreement was signed at ASTAD’s
headquarter office by Vodafone Qatar’s Head of Large Sales,
Mahday Al Hebabi and Abdulla Alyafei, ASTAD’s IT Director.
Vodafone Qatar will provide ASTAD with a world class
telecommunications infrastructure using a mix of fiber and
microwave that carry high bandwidths, with guaranteed
business service level agreements, and redundancy measures to
protect ASTAD’s critical data flow. (QSE)
 QCB’s foreign exchange reserves jump by 12.7% MoM in May –
Qatar Central Bank’s (QCB) foreign exchange reserves jumped
12.7% MoM to $44.8bn in May, equating to 7.0 months of
import cover. Bank’s assets growth was 2.5% YoY in May.
Credit growth was 2.7% as deposits from the non-resident and
private sector remained stable in May. QNB Group’s monthly
monitor noted the country’s real GDP growth slowed in 1Q2018
due to a further fall in hydrocarbon output. Powered by the
construction sector, non-hydrocarbon real GDP growth was a
solid 4.9% YoY in 1Q2018. CPI inflation dropped to 0.1% YoY in
June; food inflation continued to cool even as deflation in
housing costs moderated. Booming construction output, up
17.2% YoY, remained the key driver of activity in the non-
hydrocarbon sector. Broad money supply (M2) steadily grew by
11.64% in May and Interbank rates remain steady despite
higher US short-term rates. The fiscal account remained in
deficit in 4Q2017, but should recover subsequently as revenue
rises in line with higher oil prices. The current account surplus
widened to 7.3% of GDP in 1Q2018, while the financial account
deficit narrowed. Exports grew 22% YoY in May as a result of
higher oil prices, while imports growth was a more moderate
2.7%. (Peninsula Qatar)
 FDI in Qatar reached QR676.4bn by end of 1Q2018 – Foreign
investments in Qatar amounted to QR676.4bn by the end of
1Q2018, according to the findings of the quarterly Foreign
Investment survey launched by the Ministry of Development
Planning and Statistics and Qatar Central Bank. The survey
covers major enterprises (private and public) operating in the
national economy. It targeted some of the largest enterprises in
the private sector which accounted for 84% of the value of
inward foreign direct investment (FDI) of non-banks
enterprises in 2016, while QCB surveyed all financial
institutions under its supervision. International financial
transactions made by individuals and by the government were
not covered. Hence, the survey results are not strictly
comparable with the balance of payments (BOP) statement of
QCB, QNA reported. The survey findings showed that liabilities
to non-residents (inward investment) increased in 1Q2018 by
4% or QR28.4bn from QR648bn at the end of the previous
quarter to stand at QR676.4bn. At the end of 1Q2018, other
foreign investments accounted for 67% or QR455.9bn, followed

4. Page 4 of 6
by FDI in Qatar at QR123.1bn or 18% and portfolio investments
at QR93.3bn or 14% of the total liabilities. Additionally, stock of
inward FDI had been reduced by QR6.1bn at the end of 1Q2018
due to net outflows of FDI and other changes during the
quarter. As for assets with non-residents (outward
investment), they increased at the end of 1Q2018 by QR2bn
from QR400.5bn at the end of the previous quarter to stand at
QR402.5bn. (Peninsula Qatar)
 QDB to launch FinTech, SportsTech incubation centers – Qatar
Development Bank (QDB) is set to launch two more incubation
centers as part of its accelerated efforts to support startups and
SMEs to achieve economic diversification in Qatar’s private
sector, according to QDB’s Executive Director of Advisory
Services and Incubation, Ibrahim Al Mannai. The new
incubation centers will be dedicated to financial technology
(FinTech) and sports technology (SportsTech). They will
support every way possible to the innovative ideas of budding
Qatari entrepreneurs who are aspiring to extend their
contributions in transforming Qatar into a knowledge-based
society. QDB is already overseeing the Qatar Business
Incubation Centre, which is a unique mixed-use business
incubation center providing support services to help
entrepreneurs and companies who either have an idea to start a
business or wants to grow an existing business. The new
centers will be tech-based and catering to startups from the
finance and sports sector. (Peninsula Qatar)
 Qatar Chamber meets delegation from Turkish state of Siirt –
Qatar Chamber held a meeting with a trade delegation from the
Turkish state of Siirt, who are on a visit to Qatar under the
chairmanship of Governor of the State, Ali fuat Atik, to discuss
the development of trade relations between businessmen from
both the countries. During the meeting, Mohamed Bin Ahmed
Al Obaidli, a board member of Qatar Chamber, praised the
growing trade relations between Qatari businessmen and their
counterparts in Turkey, pointing out that the number of
Turkish companies operating in the Qatari market is estimated
at 330 companies, which are focused on contracting,
infrastructure, construction and electrical works, and the
volume of projects implemented by Turkish companies in Qatar
is about $11.6bn. (Gulf-Times.com)
International
 US industrial production increases in June – US industrial
production increased in June, boosted by a sharp rebound in
manufacturing and further gains in mining output, the sign of
robust economic growth in 2Q2018. However, the outlook for
the industrial sector is uncertain against the backdrop of
escalating trade tensions between the US and its major trade
partners, which threaten to disrupt global trade. The Federal
Reserve stated industrial production rose 0.6% last month after
falling 0.5% in May. It accelerated at 6.0% annualized rate in
2Q2018 after 2.4% growth pace in 1Q2018. Manufacturing
output increased 0.8% in June after decreasing 1.0% in May.
(Reuters)
 UK pay growth slows to six-month low despite record
employment – British workers’ pay growth slowed to its
weakest in six months despite record employment, challenging
the Bank of England as it considers whether to raise interest
rates next month for only the second time since the financial
crisis. Average weekly earnings rose by 2.5% on the year in the
three months to May, slowing from the previous three month
period when they grew by 2.6% and the weakest since the three
months to November, according to the Office for National
Statistics. Data showed the unemployment rate remained at its
joint-lowest since 1975 at 4.2% while the proportion of people
in work rose to a record high of 75.7% after 137,000 jobs were
created over the three months to May. (Reuters)
 Japan, EU sign free trade pact amid worries about Trump –
Japan and the European Union (EU) signed a wide-ranging free
trade deal that both sides hope will act as a counterweight to
the protectionist forces unleashed by US President Donald
Trump. The ambitious trade pact, which creates the world’s
largest open economic area, comes amid fears that a trade war
between the US and China will diminish the role of free trade in
the global economic order. The deal removes EU tariffs of 10%
on Japanese cars and 3% on most car parts. It would also scrap
Japanese duties of some 30% or more on EU cheese and 15% on
wines, and secure access to large public tenders in Japan.
(Reuters)
 China still confident of hitting 2018 growth target despite
slowdown, trade risks – China is still confident of hitting its
economic growth target of around 6.5% this year despite views
that it faces a bumpy second half as a trade row with the US
intensifies, the state planning agency stated. The remarks came
a day after China reported slightly slower growth for 2Q2018
and the weakest expansion in factory activity in June in two
years, suggesting a further softening in business conditions in
coming months as trade pressures build. Even after weaker data
and the latest US tariffs, most economists predict China is still
likely to come in around its official GDP growth target this year,
though some China watchers believe activity levels are already
much weaker than official data suggest. (Reuters)
Regional
 S&P: GCC corporate, infrastructure Sukuk issuance to decline in
2018 – With a diminishing funding needs and the corporates
continuing to operate with limited investment programs, the
GCC corporate and infrastructure Sukuk issuance volumes in
2018 is expected to remain well below the 2017 levels.
Additionally, global investors’ perception of the GCC risk has
increased over the past 12 months, which has convinced some
Sukuk issuers to hold off on potential issuance for the time
being, S&P Global Ratings (S&P) noted. According to the
ratings agency, the GCC region’s corporate and infrastructure
issuers raised over $7.6bn via Sukuk in 2017. The issuance was
subdued in 1H2018. Five issuers raised around $2.6bn in total,
representing a 60% decline relative to the $6.5bn achieved in
1H2017. While the GCC region has a good number of Islamic
banks that are frequent Sukuk issuers, the number of corporate
issuers that tap into the Sukuk space remains small, resulting in
volatile annual volumes of issuance. (Peninsula Qatar)
 Boeing: Middle East will need nearly 3,000 jets worth $754bn in
20 years – Airlines in the Middle East will need 2,990 new
airplanes over the next 20 years, valued at an estimated
$754bn, according to Boeing’s Commercial Market Outlook
(CMO) for 2018-2037 period. Boeing stated in the report that
global airplane fleet will also sustain growing demand for
commercial aviation services, leading to a total market

5. Page 5 of 6
opportunity of $15tn. Around the world, Boeing has lifted its
long-term forecast for commercial airplanes as rising passenger
traffic and upcoming airplane retirements drive the need for
42,730 new jets valued at $6.3tn over the next 20 years. (Qatar
Tribune)
 RIBL posts 25.2% YoY increase but 6.6% QoQ decline in net
profit to SR1,062mn in 2Q2018 – Riyad Bank (RIBL) recorded
net profit of SR1,062mn in 2Q2018, an increase of 25.2% YoY (-
6.6% QoQ). Total operating income rose 9.5% YoY and 2.0%
QoQ to SR2,173mn in 2Q2018, mainly due to increase in net
special commission income and fee & commission income, net.
Total assets stood at SR215.48bn at the end of June 30, 2018 as
compared to SR218.99bn at the end of June 30, 2017. Loans and
advances stood at SR144.31bn (2.2% YoY), while customer
deposits stood at SR153.42bn (-2.3% YoY) at the end of June 30,
2018. EPS came in at SR0.73 in 1H2018 as compared to SR0.63
in 1H2017. (Tadawul)
 Aviation sector set to rise on back of Saudi Arabia’s new Jeddah
hub – Saudi Arabia’s aviation sector is expected to witness
impressive growth in the coming years on the back of its
expanded Jeddah hub. Boeing’s Senior Managing Director,
Darren Hulst said that Jeddah’s geographic location, large local
population and proximity to Makkah give it significant
opportunities as an international hub and destination market.
(GulfBase.com)
 Chinese firm to pump AED5bn into UAE’s realty market –
China’s Fidu Properties announced massive expansion plans in
the UAE and region, with over AED5bn worth of investments in
the UAE alone over the next three years. The company is also
planning to expand its footprint in the region amid bullish
trends expected in the real estate sector. Fidu Properties is
aiming to operate over 450 branches across GCC and the Asian
subcontinent in the next three years. Through this aggressive
expansion, the company aims to create around 3,000 jobs in the
region and beyond. (GulfBase.com)
 Emirates NBD Bank's net profit rises to AED2,630.8mn in
2Q2018 – Emirates NBD Bank recorded net profit of
AED2,630.8mn in 2Q2018 as compared to AED2,020.6mn in
2Q2017. Net interest income came in at AED2,751.4mn as
compared to AED2,195.1mn in 2Q2017. Total operating income
came in at AED4,347.7mn as compared to AED3,835.8mn in
2Q2017. Total assets stood at AED477.51bn at the end of June
30, 2018 as compared to AED470.37bn at the end of December
31, 2017. Loans and receivables stood at AED268.58bn, while
customers’ deposits stood at AED275.68bn at the end of June
30, 2018. EPS came in at AED0.45 in 2Q2018 as compared to
AED0.34 in 2Q2017. (DFM)
 EIB’s net profit rises to AED276.7mn in 2Q2018 – Emirates
Islamic Bank (EIB) recorded net profit of AED276.7mn in
2Q2018 as compared to AED165.7mn in 2Q2017. Net financing
income came in at AED397mn as compared to AED393.8mn in
2Q2017. Total operating income came in at AED627.2mn as
compared to AED583.6mn in 2Q2017. Total assets stood at
AED58.7bn at the end of June 30, 2018 as compared to
AED61.88bn at the end of December 31, 2017. Financing and
investing receivables stood at AED34.92bn, while customers’
accounts stood at AED42.72bn at the end of June 30, 2018. EPS
came in at AED0.051 in 2Q2018 as compared to AED0.031 in
2Q2017. (DFM)
 Emaar Properties to double investments in Egypt – Emaar
Properties is planning to double its investments in Egypt to
100bn Egyptian Pounds over the next five years. Emaar
Properties has planned to increase the number of hotels in its
Marassi project to six by 2021 with a total investment of 6bn
Egyptian Pounds, sources said. (Reuters)
 DSI confirms Tabarak remains strategic investor – Drake and
Scull International (DSI) stated that Tabarak Investment’s
stake in it is 13.26% and Tabarak will continue to be a strategic
investor. DSI stated that Tabarak owns over 142mn shares in
DSI. It added that changes in the ownership of Tabarak
Investment in DSI are a result of the margin calls executed by
financial institutions during the month of July 2018, which
instigated the sale of DSI shares under the terms of a financing
agreement. (GulfBase.com)
 NBF posts 6.4% YoY and 13.4% QoQ rise in net profit to
AED165mn in 2Q2018 – National Bank of Fujairah (NBF)
recorded net profit of AED165mn in 2Q2018, an increase of
6.4% YoY and 13.4% QoQ. Net interest income and net income
from Islamic financing and investment activities rose 25.3%
YoY and 14.9% QoQ to AED281mn in 2Q2018. Operating profit
rose 20% YoY and 9.6% QoQ to AED272mn in 2Q2018. Total
assets stood at AED38.09bn at the end of June 30, 2018 as
compared to AED36.66bn at the end of December 31, 2017.
Loans and advances and Islamic Financing receivables stood at
AED26.05bn (8.9% YoY), while customers’ deposits and Islamic
customer deposits stood at AED28.19bn (11.5% YoY) at the end
of June 30, 2018. (ADX)
 Non-oil trade between Abu Dhabi, China reached AED13.2bn in
2017 – The value of non-oil trade between Abu Dhabi and
China, in 2017, reached AED13.2bn, constituting around 8.2%
of the Emirate’s registered trade that totaled AED160bn during
the same year, according to Statistics Centre-Abu Dhabi, SCAD.
Statistics on Abu Dhabi’s non-oil trade showed that China is
among the top five countries with key trade relations with the
Emirate. The increasing trade between the two sides is
highlighted by their growing mutual exports, imports and re-
exports, which have made the UAE a regional trading center.
(GulfBase.com)
 Wataniya Airways to add 25 A320neo aircraft – Golden Falcon
Aviation, the exclusive aircraft provider of Kuwait’s Wataniya
Airways, confirmed an order for 25 Airbus A320neo family
aircraft. The list price of A320neo is $110.6mn. Wataniya
Airways had resumed operations in July 2017 and currently
operates a fleet of four A320 family aircraft serving
destinations in the Middle East, Europe, Africa and Asia from its
home base in Kuwait. The A320neo family aircraft will support
the airline’s vision to become the fastest growing and leading
airline in the country. (GulfBase.com)

6. Contacts
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) is regulated by the Qatar Central Bank. This publication expresses the views and
opinions of QNBFS at a given time only. It is not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
40.0
60.0
80.0
100.0
120.0
Jun-14 Jun-15 Jun-16 Jun-17 Jun-18
QSE Index S&P Pan Arab S&P GCC
(0.3%)
0.1%
(0.2%)
0.5%
(0.1%) (0.2%) (0.2%)(0.4%)
0.0%
0.4%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,227.56 (1.1) (1.1) (5.8) MSCI World Index 2,138.15 0.3 0.2 1.6
Silver/Ounce 15.57 (1.4) (1.5) (8.1) DJ Industrial 25,119.89 0.2 0.4 1.6
Crude Oil (Brent)/Barrel (FM Future) 72.16 0.4 (4.2) 7.9 S&P 500 2,809.55 0.4 0.3 5.1
Crude Oil (WTI)/Barrel (FM Future) 68.08 0.0 (4.1) 12.7 NASDAQ 100 7,855.12 0.6 0.4 13.8
Natural Gas (Henry Hub)/MMBtu 2.80 2.3 (2.1) (20.9) STOXX 600 384.98 (0.2) (0.2) (4.1)
LPG Propane (Arab Gulf)/Ton 87.25 (0.7) (5.2) (11.9) DAX 12,661.54 0.4 0.8 (5.0)
LPG Butane (Arab Gulf)/Ton 94.25 (3.3) (8.5) (13.1) FTSE 100 7,626.33 (0.4) (1.1) (3.7)
Euro 1.17 (0.4) (0.2) (2.9) CAC 40 5,422.54 (0.2) (0.3) (1.1)
Yen 112.88 0.5 0.4 0.2 Nikkei 22,697.36 0.1 0.1 (0.6)
GBP 1.31 (0.9) (0.8) (2.9) MSCI EM 1,070.91 0.1 (0.4) (7.6)
CHF 1.00 (0.3) 0.2 (2.6) SHANGHAI SE Composite 2,798.13 (0.8) (0.7) (17.8)
AUD 0.74 (0.4) (0.5) (5.4) HANG SENG 28,181.68 (1.3) (1.2) (6.2)
USD Index 94.99 0.5 0.3 3.1 BSE SENSEX 36,519.96 0.7 0.0 0.1
RUB 62.59 0.5 0.0 8.6 Bovespa 78,130.30 1.8 2.0 (12.5)
BRL 0.26 0.5 0.3 (13.7) RTS 1,165.14 (1.3) (2.0) 0.9
84.4
81.7
69.0